Copper settled -0.13% down at 452.30 prices eased as both markets sat idle in anticipation of more monetary stimulus from the US Fed the following day. Copper ratcheted up towards new high in the session after Germany's high court cleared the way for the country to ratify the ESM, a move that will put in place the tools needed to resolve the region's 3year-old debt crisis. But momentum waned and cautious investors cashed in a three-day rally that saw copper climb 5% ahead of Thursday's Fed policy decision. With the German approval of the ESM, or euro zone bailout fund, the markets are now focused on the US Fed, which started a two-day policy meeting. Investors hope the US central bank will launch more easing policies on Thursday to stimulate the economy and lift demand for industrial metals. Investors' mood has lifted in recent days after big metals consumer China announced a $150 billion infrastructure program and Premier Wen Jiabao said the country was on track to meet this year's target for economic growth. In yesterday's trading session copper has touched the low of 448.75 after opening at 452.05, and finally settled at 452.3. For today's session market is looking to take support at 448.4, a break below could see a test of 444.5 and where as resistance is now likely to be seen at 456.6, a move above could see prices testing 460.8.

Trading Ideas:

Copper trading range for the day is 444.5-460.9.

Copper dropped in anticipation of more monetary stimulus from the U.S. Federal Reserve the following day.

German court approves euro-zone bailout vehicle, soothes concerns about region

Investors' mood has lifted in recent days after China announced a $150 billion infrastructure program